CBD Life Sciences (OTCMKTS: CBDL) is not a very healthy stock at the moment, with a share price of $0.00050, down 17%. This company is grazing on the red side of the graph for a long. There seems to be a respite for investors even when we look at the company’s financial health for the third quarter of 2020. The net income is down -1,139.17% and is reported at $-1.36 million for Q3-2020. Revenue has been up 937.66% (YoY change) at $120.95K. But there has been a new announcement from the company.
CBD’s subsidiary LBC Bioscience Inc. gets new CMO
LBC Bioscience Inc., the company’s wholly-owned subsidiary, appointed a new Chief Marketing Officer, Matthew McGee, to serve. He shall be assuming the role of CMO for CBD. With an objective and vision of growth and expanded sales, the new CMO hopes to infuse a strategy that will fetch the company more revenue. For this purpose, Matthew McGee said that an effective strategic plan is already in place. The new CMO comes on board with extensive experience in cannabis, along with knowledge of Cannabidiol.
Will the expertise work through?
The new CMO is a passionate leader with expertise in commercial capabilities along with practical strategies for marketing. With a degree in cybersecurity, the CMO joined the cannabis market about its huge potential to attract customers.
CBD comes with its own sets of advantages already in place. Cannabis products to deal with ALS, Parkinson’s, osteoporosis, OCD, PTSD, anxiety, bipolar, ADD/ADHD and epilepsy, make CBD a company with a rich portfolio. The company also produces products for pain management, including cramps, migraines, and arthritis.
New retail location
Additionally, CBD had also kicked off a second retail location at Scottsdale, AZ. With the expanding portfolio, the company has an exciting take on the future. CBD is anticipating starting a third store in Sedona, AZ. Additionally, it is also exploring store locations in the Las Vegas strip. CBD is hoping for promising growth and revenue for the current year. So, the investors can stay tuned in for this cannabis stock.
